26 October 2012 The Manager Companies ASX Limited 20 Bridge Street - PDF document

Level 2, 66 Hunter Street Sydney NSW 2000 Tel: (61-2) 9300 3344 Fax: (61-2) 9221 6333 E-mail: pnightingale@biotron.com.au Website: www.biotron.com.au 26 October 2012 The Manager Companies ASX Limited 20 Bridge Street Sydney NSW 2000 (16 pages by email) Dear Madam PRESENTATION TO INVESTORS I attach a PowerPoint presentation as presented by Biotron Limited's CEO, Dr Michelle Miller, to investors. For further information please contact Dr Michelle Miller on (61-2) 9805 0488. Yours sincerely Peter J. Nightingale Company Secretary pjn6924

BIOTRON LIMITED ASX:BIT Investor Briefing October 2012

Forward Looking Statements This presentation may contain forward ‐ looking statements with respect to the financial condition, results and business achievements/performance of Biotron Limited and certain of the plans and objectives of its management. These statements are statements that are not historical facts. Words such as “should”, “expects”, “anticipates”, “estimates”, “believes” or similar expressions, as they relate to Biotron Limited, are intended to identify forward ‐ looking statements. By their nature, forward ‐ looking statements involve risk and uncertainty because they reflect Biotron’s current expectations and assumptions as to future events and circumstances that may not prove accurate. There is no guarantee that the expected events, trends or results will actually occur. Any changes in such assumptions or expectations could cause actual results to differ materially from current expectations.

Biotron Limited Overview • Clinical stage drug development company • Focus on developing novel small molecule antiviral drugs • Hepatitis C virus (HCV), HIV, Dengue and others • Headquartered in Sydney, Australia • Key recent highlights • Oct 2012 – Announced positive 48-week follow-up data from Phase 2a HCV trial • Jan 2012 – Raised A$8 m via exercise of listed options (~80% exercised) • Dec 2011 – Presentation of positive 12-week follow-up data from Phase 2a trial of BIT225 against HCV

Key Financials and Facts KEY FINANCIALS BOARD AND MANAGEMENT ASX Code BIT Mr Michael Hoy Chairman Dr Michelle Miller CEO & Managing Director Recent Share Price (23 Oct 2012) A$0.13 Mr Bruce Hundertmark Non-Executive Director 52 Week High A$0.19 Dr Susan Pond Non-Executive Director 52 Week Low A$0.08 Mr Robert Thomas Non-Executive Director Shares on Issue 228 million Dr Denis Wade Non-Executive Director Market Capitalization A$30 m Net Cash (30 Sept ‘12) A$7.72 m Mr Peter Nightingale CFO & Company Secretary

Biotron’s Pipeline VIRAL PRE- PHASE INDICATION DISCOVERY PHASE 1a PHASE 1b PHASE 2a STATUS TARGET CLINICAL 2b Ph 2a HEP C p7 complete Ph 1b/2a HIV Vpu In Progress Ph 2 To Hep C/HIV Vpu/p7 commence late 2012 Dengue M Next generation p7 for HCV

Hepatitis C Virus – The Silent Killer • Leading cause of chronic liver disease and transplants • 180 m people infected worldwide (3% world population); 130 m are chronically infected • 4 m patients in US (2.7 m chronically infected) • 70% will develop liver diseases including cirrhosis and liver cancer • Currently only 2.6% are treated each year • Standard of care is interferon and ribavirin • Up to 50% patients don’t respond to current treatment • Significant side effect profile – high drop out rate • Documented need for new, safer drugs • Race is on to develop safe, effective all-oral direct-acting antiviral combos

Hep C – Scene of Billion Dollar Deals Nov 2011 – Gilead (GILD) acquired Pharmasset (VRUS) for US$11 billion - PSI-7977 recently advanced into Phase 3 Jan 2012 – BMS acquired Inhibitex (INHX) for US$2.5 billion - INX-189 currently in Phase 2 Feb 2012 – Roche licenses polymerase inhibitor (preclinical) from Enanta Pharmaceuticals (privately held) for US$34 m upfront plus up to US$406 m milestone payments

Hep C – An Expanding Market • Only small percentage currently receive treatment. • USA and Europe represent major markets but other, larger markets are emerging. • Worldwide market ~US$3 billion; predicted to expand to >US$10 - 20 billion as new, safer drugs enter the market. Smith Nature Reviews Drug Discovery 5, 715–716 (September 2006)

HCV Drug Targets – Simplified 1. Hep C virus binds to and enters liver cell 2. Virus is uncoated; releasing HCV RNA and proteins 3. PROTEASE makes new HCV proteins PROTEASE INHIBITORS BLOCK STEP 3 6. New HCV viruses released from liver cell 4. POLYMERASE makes new HCV RNA POLYMERASE INHIBITORS BLOCK STEP 4 5. New HCV proteins and RNA are assembled into new virus particles BIOTRON’S BIT225 BLOCKS STEP 5

BIT225 HCV Clinical Information  Phase Ia – 48 patient, single dose safety study in healthy volunteers  Phase Ib - 18 patient, 7-day multiple dose study in patients with HCV  Phase 2a – 24 patient, 28-day multiple dose study in patients with HCV (genotype 1)  Combination trial with peg-IFN and Ribavirin (Standard of Care, SOC).  12-week data presented at HepDART in Dec 2011; 48-week headline data released Oct 2012

BIT225 (400mg)+ SOC Leads to 100% Virus-Free at 48 weeks Median log % Complete EVR % SVR (<50IU/ml at Treatment reduction (<50IU/ml at 12 48 weeks) at 35 days weeks) 86 100 400 mg BIT225 + SOC -4.957 88 88 200 mg BIT225 + SOC -4.351 63 75 Placebo + SOC -3.649 HCV RNA Change from Baseline (Log 10 ) - Non-Compliers Removed - Median at timepoint - 0.000 -1.000 Log10 Change from -2.000 Baseline 400 mg 200 mg -3.000 Placebo -4.000 -5.000 DOSING PERIOD -6.000 0 7 14 21 28 35 42 49 56 63 70 77 84 91 Time point (Days)

BIT225 – Missing Link in HCV Treatment? • Industry moving to all oral DAA (direct acting antiviral) combinations • Current focus on protease and polymerase inhibitors (+ribavirin) • Expect first combo approvals 2014/15 (if no hiccoughs…..) • BUT viral resistance is a potential issue for these new fast-acting drugs • Remember HIV…. • Addition of a third drug such as BIT225 to these DAA combos could potentially retard development of resistance • IFN/Ribavirin likely to remain the backbone of treatments in various countries due to costs • BIT225 improves outcome in hard-to-treat genotype 1 patients; • Likely to be active in other genotypes (p7 conserved) • Result is multiple market opportunities for BIT225 - potential to be used with IFN/Ribavirin treatment or in combination with new DAAs

BIT225 - HIV / HCV Co-Infected Population • BIT225 also has potent anti-HIV activity – Unique mode of action targets HIV “hiding” in long-lived reservoir cells • Reservoirs are last of the holy grail in HIV; No existing drugs target this source of HIV in the body – Phase 1b/2a trial of BIT225 in HIV+ patients is currently in progress • 25 – 40% of HIV-infected patients in the USA are also HCV-infected – Significantly worse prognosis than mono-infected patients – US and European regulatory agencies have stated the need for new treatment strategies for this difficult-to-treat population • BIT225 is uniquely placed due to dual anti-HIV and anti–HCV activity • Phase 2 trial in HIV/HCV scheduled to commence late 2012

Future Outlook By mid-2013 Biotron expects to have: • Completed final pharmacokinetic and resistance studies on participants in the Phase 2a HCV BIT225 IFN/RBV combination trial; • Completed the Phase 1b/2a HIV trial currently in progress; • Commenced and completed the anticipated Phase 2 HIV/HCV co-infection trial; • Boosted preclinical safety package with extended toxicity studies out to 3 months dosing • Commenced a 12 week-dosing trial of BIT225 against a wider range of HCV genotypes; and • Progressed a second generation, back-up drug through preclinical studies towards the clinic.

Michelle Miller Managing Director +61 2 9805 0488 +61 412 313329 mmiller@biotron.com.au www.biotron.com.au